Cost of Living in Nevis, MN

With a cost of living index of 68, Nevis, MN is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 14% below the Minnesota state average of 82. Nevis is a small community of 452 residents.

Housing costs are the biggest factor in Nevis's cost of living. The median monthly rent is $679 (49% below the US median of $1,319), and the median home value sits at $167,600 (45% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Nevis is $53,889, which is 28% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Nevis. The area sees an average annual temperature of 40.4°F, with summers averaging 67°F and winters around 11°F. Annual rainfall totals 23.9 inches spread over roughly 103 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.